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@phenrikand 1/ I’ve been in the digital cash and eMoney space since 1999 for co-design bit.ly/NavyCash It was centralised command control money digital USD on an EMV card where the backend -> every transaction traced & tracked by float manager @jpmorgan debitcard ATMs via @Mastercard

@phenrikand@jpmorgan@Mastercard 2/ Every Navy base & every ship in a flotilla was like an island🌴 at sea (at any point in time it could have only local and no or limited comms back to treasury) Similar to today’s offchain and onchain networks eventually reconciliation would happen. DoubleSpends manual captured

@phenrikand@jpmorgan@Mastercard 3/ Proof of Work Blockchains tend to centralisation. The top5 PoW 💥 Blockchains generally work 💪and have a huge bounty on their embedded value across their networks PoS and others not so much